QBANK’s mission is to deliver exceptional personal service and financial wellbeing to those who protect and serve the Queensland community. Started by police in 1964, QBANK has been providing financial services to employees of police, fire and emergency services, ambulance and nurses, corrective services and the broader government sector for more than 50 years.
QBANK is a niche, member-owned financial institution and its core purpose is to provide a full range of retail banking products (loans and deposits) tailored to suit members’ financial needs. Approximately 25,000 members are spread over Queensland, with the majority based in Brisbane, the Gold & Sunshine Coasts, and the North Queensland centres of Cairns and Townsville. Being a member-owned financial institution, profits go back to members in the form of award-winning products, low rates and fees.
QBANK’s Everyday Plus Account is a transaction account that gives back. For each account QBANK makes a donation of 10 cents every month, paid quarterly, to support charities in the community.
The credit criteria is tailored around this unique community, taking into account overtime, shift penalties and 100% of allowances for those in essential services. Due to the nature of the membership base, the collections process is designed around finding long term solutions to assist members who find themselves in financial stress. By working with members and educating them on their financial wellbeing QBANK is able to minimise the number of loans that fall into arrears.
QBANK is always looking for opportunities to be involved in and support organisations that support their member community. That is why it reinvests up to 15% of profits back into community initiatives through its Community Giving Program. Some of these recipients include Police and QAS Legacy, RBWH Foundation, KJM Foundation and Hummingbird House. QBANK also have a Staff Social Investment program that includes special leave for volunteering and regular fundraising events.
Everything QBANK does is centred around a number of core values. These values guide their behaviour and the way they work together with members, colleagues and suppliers. The community is the reason for their existence. They know their members’ unique needs and expectations and commit to putting them at the centre of everything they do. QBANK recognises that whatever the strength of the individual, they will accomplish more working together as one team. Collaboration, respect and fairness are at the heart of the community.